From: jgp44@belllsouth.net
Sent: Friday, July 27, 2001 9:58 PM
To: rule-comments@sec.gov
Subject: Rule S7-24-99
On Fri Jul 27 18:58:04 2001,
The following information was submitted:
Host: 208.61.44.216
submit_by = jgp44@belllsouth.net
Name = jason g poulos
Professional_Affiliation = regular Investor
Subject = MMs
Comments = I believe MMs should be held legally accountable for stock manipulation.
They manipulate stocks everyday to the detriment of other investors, but
they seem to have complete impunity. Why are they allowed to do this?
Ordinary citizens do jail-time for manipulating stocks, yet MMs are allowed to
manipulate stocks everyday. So many have Level 2 now and it is so easy to see.
It's obvious and it's done in broad daylight. Why is this legal?
Why are MMs allowed to lie about the amount of shares they have for sale?
An MM will often put up 1-10 shares to sell on level2 making it look like a stock
is going up, then sell out thousands of shares eventually driving down the price.
This drastically misrepresents the value of the stock. I believe this is criminal
and should be prosecuted. Nobody else can misrepresnt the value of a product or
service without being held accountable, legally. Please do something about this
Yet you allow this everyday, so in reality, you are responsible.
WHY do you allow it? I would appreciate a specific response.
Jason